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Illustration: Aïda Amer/Axios

Enel Group, the Italy-based global power giant, is planning to spend $190 billion over the next decade in a push that includes a huge expansion of renewables and wider clean-energy infrastructure and business lines.

By the numbers: The company, already a big renewables player, said Tuesday that it's devoting $83 billion toward plans to grow its installed renewables capacity to 120 gigawatts by 2030, up from about 45 GW now.

  • The plan also includes investments in storage, hydrogen, digital networks and electrification more broadly.

Why it matters: It's part of a wider push by some of the world's largest energy companies to bet their future on huge new investments in low-carbon power and services.

Catch up fast: Earlier this month, the Spain-based multinational Iberdrola unveiled plans to invest almost $89 billion over the next five years, with most of the money going to renewables growth and grid enhancements.

Go deeper: Europe’s biggest utility company to ramp up spending on wind and solar power (WSJ)

Go deeper

Ben Geman, author of Generate
Dec 21, 2020 - Energy & Environment

Capitol Hill deal would cut major greenhouse gas, boost energy credits

Photo: Samuel Corum/Getty Images

Congress is nearing passage of legislation that phases down a powerful planet-warming gas used in air conditioning and refrigeration, while also extending tax credits for renewable power and carbon capture projects.

Driving the news: Those provisions are part of the bipartisan year-end spending and COVID-19 relief deal moving through Capitol Hill this week, after a compromise on a $900 billion package was finally reached Sunday night.

Updated 3 hours ago - World

Mexican President López Obrador tests positive for coronavirus

Mexico's President Andrés Manuel López Obrador during a press conference at National Palace in Mexico City, Mexico, on Wednesday. Photo: Ismael Rosas/Eyepix Group/Barcroft Media via Getty Images

Mexican President Andrés Manuel López Obrador announced Sunday evening that he's tested positive for COVID-19.

Driving the news: López Obrador tweeted that he has mild symptoms and is receiving medical treatment. "As always, I am optimistic," he added. "We will all move forward."

3 hours ago - Politics & Policy

Sarah Huckabee Sanders to run for governor of Arkansas

Sarah Huckabee Sanders at FOX News' studios in New York City in 2019. Photo: Steven Ferdman/Getty Images

Former White House press secretary Sarah Huckabee Sanders will announce Monday that she's running for governor of Arkansas.

The big picture: Sanders was touted as a contender after it was announced she was leaving the Trump administration in June 2019. Then-President Trump tweeted he hoped she would run for governor, adding "she would be fantastic." Sanders is "seen as leader in the polls" in the Republican state, notes the Washington Post's Josh Dawsey, who first reported the news.

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